MUMBAI/BENGALURU Reliance Capital said on Thursday the observations of global audit firm PwC about its fiscal accounts were "completely baseless and unjustified", after PwC in a surprise move resigned earlier this week as the auditor of the non-banking financial company (NBFC).
MUMBAI India evacuated hundreds of thousands of people to shelters along the coast in its western state of Gujarat as a cyclone gathering intensity over the Arabian Sea was expected to hit land on Thursday. | Video
MUMBAI India's Reliance Industries Ltd and partner BP said on Tuesday they would start developing a third gas field off India's east coast.
MUMBAI Indian authorities are preparing to evacuate 300,000 people along the western coast as a severe cyclone is expected to make landfall on Thursday morning in the state of Gujarat.
MUMBAI Reserve Bank of India Governor Shaktikanta Das said the central bank would closely monitor the health of non-banking financial companies (NBFCs) and it would not hesitate to take corrective measures, if needed, to address issues in the shadow banking sector.
* To take steps to maintain financial stability of NBFCs if
MUMBAI The Reserve Bank of India diluted its guidelines on stressed assets and has now mandated banks to undertake a review of a borrower's accounts within 30 days of default, according to a circular issued on Friday.
MUMBAI/HONG KONG Hamleys, the world's oldest toy retailer, is set to pass from Chinese to Indian control after Reliance Industries Ltd said it had agreed to buy the British high street icon in a deal worth $88.5 million. | Video
India's Reliance Industries, operator of the world's biggest refining complex, posted a record net profit on Thursday as strong growth in retail and telecom businesses offset the impact of 17-quarter low refining margins.